Tyra Biosciences, Inc. (NASDAQ:TYRA) Receives Average Rating of "Buy" from Brokerages

Key Points

• Tyra Biosciences has received an average rating of "Buy" from seven brokerages, with six analysts providing a buy rating and one giving a strong buy rating.
• The average 1-year price target for Tyra Biosciences according to analysts is $31.86, with some brokerages setting targets as high as $36.00.
• Insiders sold 16,392 shares of the company's stock in the past 90 days, indicating recent movements in management's holdings.

Shares of Tyra Biosciences, Inc. (NASDAQ:TYRA - Get Free Report) have received an average recommendation of "Buy" from the seven brokerages that are covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $31.8571.

A number of analysts have issued reports on TYRA shares. Wall Street Zen raised Tyra Biosciences from a "sell" rating to a "hold" rating in a research note on Saturday. Raymond James Financial began coverage on Tyra Biosciences in a report on Tuesday, September 2nd. They set a "strong-buy" rating and a $35.00 price target on the stock. Piper Sandler began coverage on Tyra Biosciences in a report on Wednesday, May 21st. They set an "overweight" rating and a $33.00 price target on the stock. Oppenheimer restated an "outperform" rating and set a $36.00 price target on shares of Tyra Biosciences in a report on Wednesday. Finally, HC Wainwright reaffirmed a "buy" rating and set a $30.00 target price on shares of Tyra Biosciences in a research note on Friday, August 22nd.

Insider Buying and Selling

In other Tyra Biosciences news, Director Gilla Kaplan sold 9,568 shares of the company's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $9.78, for a total value of $93,575.04. Following the transaction, the director owned 28,231 shares of the company's stock, valued at $276,099.18. This represents a 25.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 16,392 shares of company stock valued at $164,408. Corporate insiders own 15.20% of the company's stock.

Hedge Funds Weigh In On Tyra Biosciences

Several hedge funds have recently bought and sold shares of the business. Commodore Capital LP grew its position in Tyra Biosciences by 226.3% in the 2nd quarter. Commodore Capital LP now owns 3,100,000 shares of the company's stock valued at $29,667,000 after acquiring an additional 2,150,000 shares during the last quarter. Vestal Point Capital LP grew its position in Tyra Biosciences by 190.9% in the 1st quarter. Vestal Point Capital LP now owns 2,879,829 shares of the company's stock valued at $26,782,000 after acquiring an additional 1,889,829 shares during the last quarter. Sio Capital Management LLC grew its position in Tyra Biosciences by 94.5% in the 2nd quarter. Sio Capital Management LLC now owns 810,274 shares of the company's stock valued at $7,754,000 after acquiring an additional 393,657 shares during the last quarter. Balyasny Asset Management L.P. lifted its holdings in shares of Tyra Biosciences by 139.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 583,386 shares of the company's stock worth $5,583,000 after buying an additional 340,142 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Tyra Biosciences by 9.8% in the 2nd quarter. Geode Capital Management LLC now owns 567,126 shares of the company's stock worth $5,428,000 after buying an additional 50,836 shares during the period. Institutional investors own 84.14% of the company's stock.

Tyra Biosciences Price Performance

NASDAQ:TYRA opened at $12.52 on Friday. Tyra Biosciences has a 1 year low of $6.42 and a 1 year high of $29.60. The stock's 50 day simple moving average is $11.19 and its two-hundred day simple moving average is $10.27. The company has a market cap of $667.32 million, a price-to-earnings ratio of -7.03 and a beta of 1.10.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.53) by $0.06. As a group, analysts anticipate that Tyra Biosciences will post -1.57 EPS for the current year.

Tyra Biosciences Company Profile

Tyra Biosciences, Inc, a clinical-stage biotechnology company, develops precision medicines for fibroblast growth factor receptor (FGFR) biology in the United States. The company offers SNÅP, a precision medicine platform that enables drug design through iterative molecular snapshots to predict genetic alterations for developing therapies targeting oncology and genetically defined conditions.

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